Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Honeywell International Inc.

November 17, 2018

LOS ANGELES--(BUSINESS WIRE)--Nov 16, 2018--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the January 2, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Honeywell International Inc. (“Honeywell” or the “Company”) (NYSE: HON ) securities between February 9, 2018 and October 19, 2018, inclusive (the “Class Period”). Honeywell investors have until January 2, 2019 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On August 23, 2018, Honeywell announced that “the Company’s Bendix asbestos-related liability is estimated to be $1,693 million as of June 30, 2018. This is $1,083 million higher than the Company’s prior estimation.” Honeywell further advised investors that “Bendix asbestos-related insurance assets are estimated to be $187 million as of June 30, 2018, which is $65 million higher than the Company’s prior estimate.”

Then, on October 19, 2018, Honeywell filed a quarterly report with the U.S. Securities and Exchange Commission (the “SEC”) for the quarter ended September 30, 2018. In its quarterly report, Honeywell stated that “the SEC’s Division of Corporate Finance had reviewed Honeywell’s prior accounting for liability for unasserted Bendix-related asbestos claims” and that “[o]n September 13, 2018, following completion of Corporation Finance’s review, the SEC Division of Enforcement advised that it has opened an investigation related to this matter.” On this news, shares of Honeywell stock fell $1.72 per share, or 1.11%, to close at $153.47 on October 19, 2018, thereby injuring investors.

The complaint filed in this class action alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Honeywell’s Bendix asbestos-related liability was greater than initially reported; (2) Honeywell maintained improper accounting practices in connection with its Bendix asbestos-related liability; and (3) as a result, Honeywell’s public statements were materially false and misleading at all relevant times.

If you purchased shares of Honeywell, you may move the Court no later than January 2, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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